Bolt has raised 600 million euros from investors to aid quick grocery delivery.The round was led by Sequoia Capital alongside other new investors Tekne and Ghisallo, G Squared, D1 Capital and Naya.
Founded by Markus Villig, Bolt is an Estonian mobility company that offers vehicle for hire, micromobility, car-sharing, and food delivery services headquartered in Tallinn and operating in over 300 cities in 45 countries in Europe, Africa, Western Asia and Latin America.
Their delivery services include Bolt Food, a platform that enables customers to order meals from restaurants. Recently Bolt added grocery delivery business with Bolt Market which will be launched in 10 European countries over the next few months, including the Baltics and Central Europe, Sweden, Portugal, Croatia, and Romania.
The fund will be used to accelerate the expansion of all of these services in Europe as well as a number of African markets where Bolt has a presence.
“Bolt’s mission is to make urban travel affordable and sustainable,” chief executive Markus Villig said. “We are building a future where people are not forced to buy cars that cause traffic and pollution, but use on-demand transport when they actually need it.” “Bolt is redefining urban transportation in much of the world,” Sequoia partner Andrew Reed said of the new funding round. “Markus is a driven founder who has built an operationally-excellent business spanning Europe and Africa and a mission-driven culture that forms the foundation of an enduring company. Bolt helps customers, cities and the environment.”